Trading Report: Today, Beck Mack & Oliver LLC Maintains Position in Eaton Corp. PLC (ETN)

Today, Beck Mack & Oliver LLC Maintains Position in Eaton Corp. PLC (ETN)

Beck Mack & Oliver LLC maintained its position in shares of Eaton Corp. PLC (NYSE:ETN) during the second quarter, Holdings Channel reports. The fund owned 6,190 shares of the company’s stock at the end of the second quarter. Beck Mack & Oliver LLC’s holdings in Eaton Corp. PLC were worth $370,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smithfield Trust Co. boosted its position in shares of Eaton Corp. PLC by 0.5% in the second quarter. Smithfield Trust Co. now owns 12,868 shares of the company’s stock valued at $768,000 after buying an additional 68 shares during the period. Signaturefd LLC boosted its position in shares of Eaton Corp. PLC by 35.9% in the second quarter. Signaturefd LLC now owns 1,933 shares of the company’s stock worth $115,000 after buying an additional 511 shares during the last quarter. Herndon Capital Management LLC bought a new position in shares of Eaton Corp. PLC during the second quarter worth about $24,481,000. GW Henssler & Associates Ltd. boosted its position in shares of Eaton Corp. PLC by 10.0% in the second quarter. GW Henssler & Associates Ltd. now owns 21,640 shares of the company’s stock worth $1,293,000 after buying an additional 1,968 shares during the last quarter. Finally, Nicolet Bankshares Inc. boosted its position in shares of Eaton Corp. PLC by 6.7% in the second quarter. Nicolet Bankshares Inc. now owns 6,218 shares of the company’s stock worth $371,000 after buying an additional 390 shares during the last quarter. 74.32% of the stock is owned by hedge funds and other institutional investors.

Eaton Corp. PLC (NYSE:ETN) traded up 0.43% during midday trading on Tuesday, reaching $63.39. The company’s stock had a trading volume of 716,811 shares. Eaton Corp. PLC has a 52-week low of $46.19 and a 52-week high of $68.20. The firm has a market cap of $28.82 billion, a P/E ratio of 15.65 and a beta of 1.54. The firm has a 50 day moving average of $64.58 and a 200 day moving average of $63.14.

Eaton Corp. PLC (NYSE:ETN) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.07 earnings per share for the quarter, meeting the consensus estimate of $1.07. The company earned $5.10 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Eaton Corp. PLC had a return on equity of 12.28% and a net margin of 9.29%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 earnings per share. Analysts anticipate that Eaton Corp. PLC will post $4.28 earnings per share for the current fiscal year.

A number of research analysts have issued reports on the company. Credit Suisse Group AG reissued a “buy” rating on shares of Eaton Corp. PLC in a report on Saturday, July 9th. Zacks Investment Research cut Eaton Corp. PLC from a “buy” rating to a “hold” rating in a report on Friday, July 1st. Barclays PLC lifted their price objective on Eaton Corp. PLC from $67.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, August 3rd. Sanford C. Bernstein reissued a “market perform” rating on shares of Eaton Corp. PLC in a report on Monday, June 27th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $65.00 price objective on shares of Eaton Corp. PLC in a report on Thursday, August 25th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $63.35.

In related news, Director Christopher M. Connor purchased 1,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was bought at an average price of $67.23 per share, with a total value of $67,230.00. Following the completion of the purchase, the director now owns 13,650 shares in the company, valued at approximately $917,689.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Dorothy C. Thompson purchased 550 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was bought at an average cost of $67.32 per share, with a total value of $37,026.00. Following the purchase, the director now owns 550 shares of the company’s stock, valued at approximately $37,026. The disclosure for this purchase can be found here. 0.80% of the stock is owned by insiders.

About Eaton Corp. PLC

Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.

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